Entries in AML
(32)

The former Chief Compliance Officer of MoneyGram International, Inc. reached a settlement Thursday with FinCEN and the DOJ after he was held personally responsible for his company's anti-money laundering failures.

It comes as no surprise that the authorities appear to have caught up with Mossack Fonseca’s founders, JürgenMossack and RamonFonseca, who were arrested last month in Panama City and the firm’s offices raided.

Singapore demonstrates a strong anti-money laundering and counter financing of terrorism (AML/CFT) legislative framework but despite this, it shows significant weaknesses in its effective implementation, according to a recent review by the Financial Action Task Force.

Image courtesy of the The Gardens CasinoThe Financial Crimes Enforcement Network announced a settlement Friday with $2.8 million in penalties against Hawaiian Gardens Casino, Inc. d/b/a The Gardens Casino, of Hawaiian Gardens, California.

The Financial Industry Regulatory Authority (FINRA) fined a former AML compliance officer and suspended her for failing to conduct required due diligence and periodic risk reviews of foreign financial institutions.

In an effort to stop terrorism financing at its source, the New York Department of Financial Services proposed new requirements for economic sanctions and anti-money laundering programs maintained by financial firms.

According to Transparency International UK, "billions of pounds of dirty money" are passing through the UK monetary system, due to what TI describes as a "woefully inadequate” and fragmented anti-money laundering approach.

This summer, the TV documentary From Russia with Cash frayed political nerves, exposing London real estate agents keen to accept cash from “Boris,” an undercover journalist masquerading as a corrupt Russian health minister.

The Federal Deposit Insurance Corporation Wednesday imposed a civil penalty of $140 million against Banamex USA of Century City, California for violations of the Bank Secrecy Act (BSA) and anti-money laundering (AML) laws and regulations.